Severn Trent rejects takeover approach by Kuwait-led group

Severn Trent Plc (SVT), the U.K.’s second-largest publicly traded water company, rejected a takeover approach from Kuwait’s sovereign wealth fund and a Canadian infrastructure investor.
The proposal “completely fails to recognize the existing and potential value of Severn Trent,” the company said in a statement. Severn Trent, which supplies water to 7.7 million people, has a market value of 5 billion pounds ($7.6 billion)……………………………………Full Article: Source